31 May '18, 1am

Why do HDB flats get upgraded if they are going to be zero value after 99 years?

Why does the government upgrade HDB flats? Let’s start from the top. Advertisement Public housing for the masses When the government started moving people into public housing, there was a need to make housing affordable to people. Early HDB flats. Via NAS. HDB’s role, when it first formed in 1960, was to move people from slums and squatters into basic homes — both rental and owned. Quickly, the government began to encourage home ownership. Having their own asset made people more invested in the long-term social stability of the country. If you have a comfortable house, you’ll be less likely to throw it away by engaging in “civil commotion and riots “, according to then Minister Mentor Lee Kuan Yew in 2011. Advertisement Assets Enhancement Programme In the 1990s, the government used HDB upgrading as a way to increase the value of homes. This was at a time when the oldest HD...

Full article: https://mothership.sg/2018/05/why-singapore-upgrade-hdb-9...

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